Pharmacy is no longer the fastest-growing non-labor expense in healthcare.
According to Vizient’s “Winter 2026 Spend Management Outlook,” released Feb. 3, overall healthcare supply chain inflation of 2.78% is projected from July 2026 through June 2027, with IT, facilities and purchased services now outpacing pharmacy in cost growth. Pharmacy price inflation is expected to moderate to 2.84%, down from 3.35% six months ago, driven by biosimilar adoption and early impacts of Medicare drug price negotiations under the Inflation Reduction Act.
IT hardware and software top the inflation forecast at 5.66%, followed by medical gases at 5%, IT services at 4.5%, facilities management at 4.13% and food at 3.63%. Vizient said these categories reflect growing investment in digital infrastructure, cybersecurity and regulatory compliance.
The report also cited a 24% increase in radiopharmaceutical utilization between 2023 and 2024, with theranostic-related capital investment expected to grow another 24% in 2025. GLP-1 therapies continue to reshape demand, with bariatric surgery volumes down 20% since 2022 and further site-of-care shifts anticipated, the report said.
